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There are several earning crypto apps available that allow users to earn cryptocurrency through various activities. Here are some popular ones:

1. Coinbase Earn: This app allows users to earn different cryptocurrencies by completing educational tasks and quizzes related to those cryptocurrencies.

2. StormX: StormX is a cashback and rewards app that allows users to earn cryptocurrency by shopping at partner stores, completing micro-tasks, and participating in surveys.

3. Pi Network: Pi Network is a mobile mining app that allows users to mine Pi cryptocurrency using their smartphones. It aims to create a decentralized network of users.

4. Honeyminer: Honeyminer is a mining app that allows users to mine cryptocurrencies like Bitcoin and Ethereum using their computer's processing power. It runs in the background while the computer is idle.

5. Brave Browser: Brave Browser is a privacy-focused web browser that rewards users with its native cryptocurrency called Basic Attention Token (BAT) for viewing ads and supporting content creators.

6. Celsius Network: Celsius Network is a crypto lending and borrowing platform that offers interest on deposited cryptocurrencies. Users can earn interest on their holdings and also borrow against their crypto assets.

7. Binance Earn: Binance Earn is a platform offered by the popular cryptocurrency exchange Binance that allows users to earn passive income by staking or lending their cryptocurrencies.

8. Fold: Fold is a mobile app that allows users to earn Bitcoin rewards by making purchases at partner retailers using their linked debit or credit cards.

It's important to note that investing or earning cryptocurrency involves risks, and users should do thorough research and exercise caution before using any earning crypto app.

To buy cryptocurrencies peer-to-peer (P2P), you can follow these steps:1. Choose a P2P Platform: Look for a reputable P2P cryptocurrency trading platform that allows users to buy and sell cryptocurrencies directly from each other. Some popular P2P platforms include LocalBitcoins, Paxful, and Bisq.2. Sign Up and Verify: Create an account on the chosen P2P platform and complete the necessary verification process. This may involve providing identification documents and personal information to comply with Know Your Customer (KYC) regulations.3. Browse Listings: Once your account is set up, browse through the available listings on the platform. Sellers will specify the cryptocurrencies they are selling, the payment methods they accept, and the exchange rate.4. Choose a Seller: Select a seller based on their reputation, trading history, and the terms they offer. Look for sellers with a high rating and positive feedback from previous buyers.5. Initiate a Trade: Initiate a trade with the chosen seller by clicking on their listing. Specify the amount of cryptocurrency you want to buy and confirm the trade details.6. Complete the Transaction: Follow the instructions provided by the seller to complete the transaction. This may involve sending payment through the specified payment method, such as bank transfer or PayPal.7. Confirm Receipt of Cryptocurrency: Once you have sent the payment, notify the seller and provide proof of payment if required. The seller will then release the cryptocurrency to your wallet address.8. Secure Your Cryptocurrency: After receiving the cryptocurrency, transfer it to a secure wallet that you control. It is recommended to use a hardware wallet or a software wallet with strong security measures.Remember to exercise caution when buying cryptocurrencies P2P and only trade with trusted sellers. Conduct thorough research, read user reviews, and be aware of potential risks associated with P2P trading.

The reasons for the crypto market being down today could vary and are subject to market conditions and various factors. Some possible reasons for a decline in the crypto market could include:

1. Market Sentiment: Negative news or events, such as regulatory crackdowns or security breaches, can create a negative sentiment among investors, leading to a sell-off.

2. Volatility: Cryptocurrencies are known for their high volatility, and sudden price drops can trigger panic selling, causing the market to go down.

3. Market Manipulation: The crypto market is susceptible to manipulation by whales or large investors who can influence prices through large trades or coordinated actions.

4. Global Economic Factors: Economic events, such as changes in interest rates or geopolitical tensions, can impact investor confidence and lead to a decline in the crypto market.

5. Technical Factors: Technical indicators or patterns in trading charts can signal a market downturn, triggering automated sell orders and further contributing to the decline.

It's important to note that the cryptocurrency market is highly speculative and volatile, and its movements can be influenced by a wide range of factors. Therefore, it is advisable for investors to conduct thorough research and exercise caution when participating in the crypto market.

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Cryptocurrency price on August 12, a quick take: The global crypto market cap stood at $1.17 trillion on Saturday morning.

Bitcoin price stood at $29,397.53 on Saturday morning. ( Image Source : Getty )

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Bitcoin (BTC) and Ethereum (ETH) — two of the most valued crypto coins — managed to remain above the $29,000 and $18,000 marks, respectively, on early Saturdday morning. Other popular altcoins — including the likes of Litecoin (LTC), Solana (SOL) — landed in the positive as overall prices saw minor gains across the board. Shiba Inu (SHIB) emerged to be the biggest gainer, seeing a 24-hour jump of over 9.20 per cent. THORChain (RUNE), on the other hand, turned out to be the biggest loser. 

At the time of writing, the global crypto market cap stood at $1.17 trillion, registering a 24-hour gain of 0.02 per cent.

Bitcoin (BTC) price today

Bitcoin price stood at $29,397.53 seeing a 24-hour gain of 0.04 per cent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25 lakhs.

Ethereum (ETH) price today

ETH price stood at $1,847.11, marking a 24-hour gain of 0.10 per cent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.56 lakhs.

Dogecoin (DOGE) price today

DOGE registered a 24-hour gain of 0.60 per cent as per CoinMarketCap data, currently priced at $0.07609. As per WazirX, Dogecoin price in India stood at Rs 6.4843.

Litecoin (LTC) price today

Litecoin saw a 24-hour gain of 0.70 per cent. At the time of writing, it was trading at $83.77. LTC price in India stood at Rs 53.7781.

Ripple (XRP) price today

XRP price stood at $0.6293, seeing a 24-hour loss of 1.39 per cent. As per WazirX, Ripple price stood at Rs 54.0000.

Solana (SOL) price today

Solana price stood at $24.47, marking a 24-hour gain of 1.21 per cent. As per WazirX, SOL price in India stood at Rs 2,050.51. 

Top crypto gainers today (August 12)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Shiba Inu (SHIB)Price: $0.00001086

24-hour gain: 9.20 per cent

THORChain (RUNE)Price: $1.14

24-hour gain: 6.89 per cent

BoneShibaSwap (BONE)Price: $1.73

24-hour gain: 6.11 per cent

Frax Share (FXS)Price: $6.44

24-hour gain: 4.47 per cent

Toncoin (TON)Price: $1.29

24-hour gain: 3.33 per cent

Top crypto losers today (August 12)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

XDC Network (XDC)Price: $0.06408

24-hour loss: 5.03 per cent

Rocket Pool (RPL)Price: $27.35

24-hour loss: 3.81 per cent

Curve DAO Token (CRV)Price: $0.5935

24-hour loss: 2.52 per cent

Synthetix (SNX)Price: $2.53

24-hour loss: 2.41 per cent

Hedera (HBAR)Price: $0.05586

24-hour loss: 2.18 per cent

A think tank analyst says the U.S. dollar’s dominance may be coming to an end as countries position themselves for a new international system. “As the reliance on U.S. dollars diminishes, central banks will begin dumping their dollar reserves. This will result in hyperinflation, a spike in interest rates to compensate for the loss of purchasing power, and falling asset prices, further accelerating U.S. decline,” he described.

Analyst Says ‘Dollar Dominance May Be Coming to an End’

Lowy Institute, an independent international policy think tank, published an opinion piece titled “De-dollarization: shifting power between the US and BRICS” on Aug. 3. The article is authored by Michael Roach, a management consultant and researcher for the institute.

“Will a new global reserve currency threaten the greenback’s supremacy? The short answer is yes,” Roach began. The analyst predicted:

The dollar dominance may be coming to an end.

He detailed that when Saudi Arabia and Russia signed a military cooperation agreement in 2021, the exclusive role of the U.S. as “the sole protector of the Saudi Kingdom” ceased to exist. In addition, he noted that at this year’s World Economic Forum in Davos, Saudi Arabia’s Finance Minister Mohammed Al-Jadaan announced that his country was open to trading in other currencies besides the U.S. dollar. Noting that this is “something they haven’t done in nearly 50 years,” he emphasized: “The signals of de-dollarisation were emerging.”

The analyst also mentioned that during the 2022 BRICS summit, Russian President Vladimir Putin announced that the economic bloc was working to create an “international reserve currency.” There has been speculation that the BRICS nations’ common currency will be backed by gold. However, Leslie Maasdorp, vice president and chief financial officer of the New Development Bank, also known as the BRICS Bank, said last month that the development of anything alternative to the U.S. dollar is “a medium to long-term ambition.” The BRICS nations are Brazil, Russia, India, China, and South Africa.

The Lowy Institute analyst also explained that central banks are already stockpiling gold reserves. Referencing the International Monetary Fund (IMF) Currency Composition of Official Foreign Exchange Reserves (COFER), he stressed: “Countries are positioning themselves for a new international system.”

While pointing out that de-dollarization is occurring, he said “it is not something unique.” Roach explained: “The rise and fall of empires and reserve currencies are apparent throughout history — from the Dutch Empire and the guilder to the British Empire and the pound sterling, and now the U.S. Empire and the dollar. There will inevitably be a shift in the world order, and it may well be the BRICS’ time,” he opined.

The analyst concluded:

As the reliance on U.S. dollars diminishes, central banks will begin dumping their dollar reserves. This will result in hyperinflation, a spike in interest rates to compensate for the loss of purchasing power, and falling asset prices, further accelerating U.S. decline.

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Creditors Organized into Groups

Crypto exchange FTX, which had to close down due to bankruptcy, has presented a plan to organize its creditors into different plaintiff classes and reopen the exchange with third-party investors if one of the plaintiff classes accepts the plan.

In the documents released late at night, FTX’s creditors were divided into various groups. The first group consists of offshore exchange FTX.com’s creditors, referred to as “Dotcom Customers.” The other creditor groups include customers of FTX’s US branch, customers of the NFT exchange, and general unsecured creditors, secured creditors, and capital-like creditors. General creditors include those who have received credit from Alameda or are commercial partners, while capital-like creditors include monetary penalties resulting from taxes and fines.

The priority of these groups’ claims will be determined based on the order of priority flow, and each class will receive a proportional payment from the remaining pool after the previous class’s claims are settled. The specific payment order will be determined after negotiations with stakeholders.

Members of the Dotcom Customers group (former customers of FTX.com) may prefer to pool their assets to create a revived platform either under the offshore exchange company or a reestablished platform not located in the US.

The document states, “Debtors may decide to send a non-cash consideration to the Dotcom Customer Pool in the Offshore Exchange Company, such as stocks, tokens, or other benefits in the Offshore Exchange Company, or the right to invest in such stocks, tokens, or other benefits instead of sending a cash payment.” It also mentions that debtors may waive receiving cash payment in exchange for purchasing shares from the new exchange.

Interim CEO Aiming to Reopen FTX for a Long Time

Temporary CEO John Ray III, who implied previous plans to reopen FTX, mentioned “FTX reopening” or “reopening FTX 2.0” in documents submitted in May.

However, it was observed that the proposed restructuring plan did not include an allowance for FTX Token (FTT) holders. It should be noted that FTT was classified as a security by the US Securities and Exchange Commission (SEC) in December 2022 in a complaint against FTX co-founder Gary Wang and former Alameda Research CEO Caroline Ellison.